- For Pakistan’s auto sector, experts anticipate a challenging first half of 2023.
According to the most recent data provided by the Pakistan Automobile Manufacturing Association, the number of cars sold during the first half of the current fiscal year 2022-23 decreased by 39.96% when compared to the same months in 2017 (PAMA).
The data shows that 68,900 cars were sold between July and December 2022–23 as opposed to 114,774 units between July and December 2021–2022
Completely knocked down (CKD) unit import limitations and difficulties securing letters of credit were the main causes of the decline (LCs).
In the fiscal year 2023, experts predict that auto sales will decline by 40–50%.
Comparing one month to the next
In December 2022, Indus Motor Company recorded a reduction of 13% on a monthly basis to 2,823 units, mostly due to non-production days.
Honda recorded a 5% increase in sales to 2,079 units in December, while Hyundai saw a 37% increase in sales with a 67% increase in Tuscon reservations and a 41% increase in Elantra sales.
11,342 units less were sold, according to Pak Suzuki, a reduction of 8%.